By the end of the year, people buying gift cards and certificates in Nebraska will no longer have to guess how long they are valid.

A bill signed into law on Monday by Governor Dave Heineman requires all such cards and certificates to clearly note the expiration date and any applicable service charges. Credit of less than $100 could be redeemed at any point, instead of being reported to the state as unclaimed property as is the case under current law.

The new law takes effect November 2.

Heineman said the law, which is designed to make gift cards and certificates more user-friendly, was good news for Nebraskans. No one testified against the measure at a hearing last year, and it passed the Legislature last week on a 42-0 vote.

The new law also benefits stores issuing the credits because they will spend less time worrying about unclaimed property, said Jim Otto, president of the Nebraska Retail Foundation.

Under the new law, if a gift card or certificate issued for more than $100 has an expiration date or fees, and the credit is not redeemed in three years, stores would be required to turn the unclaimed money over to the state.